Tuesday, August 23, 2011

More Bittersweet Economic Thought (Heavy on the Bitter)

More Bittersweet Economic Thought (Heavy on the Bitter)

Stephen Moore discusses a Christina Romer observation about student appreciation of economics. Why Americans Hate Economics
"Economic bimboism is rampant in Washington. The Center for American Progress held a forum earlier this summer arguing that raising the minimum wage would create more jobs. For this to be true, you have to believe that the more it costs a business to hire a worker, the more workers companies will want to hire."
I'm not sure about which definition of "bimboism" is being invoked by Stephen Moore. The Urban Dictionary provides three very unflattering definitions -- sorry, this is a PG site, follow the link above, but don't blame me for the adult/R-rated content.

My review of Krugman's "Pop Internationalism" was of the same flavor - bitter. 

In addition to a lack of common sense, grace or humility, it appears that the Elites are beginning to get ruffled feathers as the unwashed (and uneducated) masses question the fabric of the Emperor's Clothes.

I also recommend Donald Boudreaux, author of the blog Cafe Hayek, but wonder if anyone can survive the Washington whirl-pool (PG, remember). 

Bottom Line

I'm going to consider a lawsuit against Romer and Moore for stealing my idea (posted here, and here). Clearly the best way to make money in America is through legal protection of IP. 

Now, if we just had a little less "I", and a little more common sense in DC. 

"Your honor, I will not use 2001, A Space Odyssey as my proof, I will use Amazon.com!" 

(Click for larger graphic).
P.S. I'd settle for a re-tweet or comment at the bottom of my blog.

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